CHICAGO - Cleveland Public Power will enter the market Thursday with $100 million of public power system revenue bonds in a sale that will wipe out all the utility's remaining auction-rate debt as well as finance an expansion into several new areas of the city.

It is the first time in 14 years Cleveland has issued new-money debt for CPP and the borrowing is part of a plan that officials hope will make the utility more competitive, as it is one of only a few throughout the nation that compete for customers.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.